Verus Capital Partners LLC Increases Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Verus Capital Partners LLC lifted its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 42.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,310 shares of the rocket manufacturer’s stock after purchasing an additional 14,150 shares during the period. Verus Capital Partners LLC’s holdings in Rocket Lab USA were worth $460,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in Rocket Lab USA during the third quarter worth $139,000. Concurrent Investment Advisors LLC purchased a new stake in Rocket Lab USA during the 3rd quarter worth about $132,000. AlphaCentric Advisors LLC purchased a new position in Rocket Lab USA in the 3rd quarter valued at about $146,000. Van ECK Associates Corp boosted its stake in shares of Rocket Lab USA by 33.1% during the 3rd quarter. Van ECK Associates Corp now owns 131,076 shares of the rocket manufacturer’s stock worth $1,275,000 after purchasing an additional 32,618 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after purchasing an additional 8,992 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RKLB has been the topic of a number of analyst reports. Citigroup raised their target price on shares of Rocket Lab USA from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. JMP Securities started coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of Rocket Lab USA in a research report on Monday, September 30th. The Goldman Sachs Group raised their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Rocket Lab USA has a consensus rating of “Hold” and an average price target of $7.75.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $14.66 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $15.24. The firm has a market capitalization of $7.28 billion, a P/E ratio of -41.88 and a beta of 1.29. The business’s 50-day simple moving average is $9.47 and its 200-day simple moving average is $6.53.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the transaction, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Adam C. Spice sold 62,512 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $435,083.52. Following the completion of the sale, the chief financial officer now directly owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock valued at $906,059 over the last ninety days. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.